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sandy. if you have a car in new york, new jersey, other areas affected all along the coast, chances are you're having a hard time filling your gas tank. many stations are still closed. others are seeing huge lines. the question is how long is this going to last? we're going to get into that coming up. >> but first, let's look at where we stand as we approach this final stretch. the mark up 131 points on the dow. check it out. 1% higher on the industrial average. technology among the better performers. you have the nasdaq composite up 42 points, that's 1.5%. s&p 500 looks like this. nasdaq at the highest levels of the afternoon right now. s&p, very close to it. up about 15 points. better than 1%. >> pretty good gains. let's dig deeper into the rally, what we can expect from the jobs numbers tomorrow. >> gentlemen, good to see you. thanks for joining us. gary, let me kick this off with you. you think market rally today is sustainable? >> well -- hi, maria. yeah, thank you. you know, it's kind of a combination of a good technical and fundamental rally. you know, a great confluence, alm
from sandy, bill. i think today's numbers along with a bunch of other data we've had the last couple days has suggested the economy has more momentum going into november than we thought before. however, when we see the pictures of sandy go from essentially heartbreaking disaster to now sort of more nerve-racking social unrest, when we hear some of the stories out there, i don't think those are the kind of pictures that cause people to take long positions in stocks. i think it's a wait-and-see position. wait and see how much sandy has an effect on the economy before you can take a positive position represented by the numbers here. >> all right. so there's a lot of noise in all of this. you've got sandy. you've got the election uncertainty. you've got uncertainty about the broad economy. i can't imagine, ron that, this 100-point selloff in the dow industrials is because people want more economic stimulus and more qe. disappointment over maybe the jobs numbers show the economy is not in need enough of more qe. we've had so much stimulus out there. >> yeah, i think anybody who's been tra
way here. what impact did sandy, the superstorm that hit a few weeks ago here in the northeast and along the eastern seaboard, what impact? you have new data suggesting the impact it had on the economy. >> you are talking about what could be a manmade disaster. this is a natural disaster. iar worldwide, one of the companies that gauges the insured losses. only insured. doesn't count government. has significantly increased its estimate to $16 to $22 billion from 7 $to 15 billion. that's a little lower on the upper range but about double. they're citing much greater storm damage than originally estimated. and, of course, higher payouts on insured losses. mayor bloomberg just this afternoon also estimated the losses for new york city alone, economic activity and government at $20 billion alone. this may be -- remember, initially it was estimated at $50 billion event. maybe it's more like $75 billion or $100 billion. just a warning to investors, there's a lot of data coming up this week that's affected by sandy. if you take a look tomorrow, durable goods could have a sandy effect i
to the downside, so is telecom, in the wake of superstorm sandy. right now, here's how we stand, virtually unchanged. write this number down, maria, 13,90.84. we'll explain the significance of that level of the dow later in the program. right now we're just above that with a gain of four points. nasdaq's up 13.5, high of the session suddenly at 2995. apple's doing well today. sold a lot of ipad minis over the weekend. s&p up 1 1/3 at 1415.50. >> market flat ahead of the election, with some groups on the move. >> in today's "closing bell exchange," todd is with us, so is bill, and steve liesman and pisani with us as well. it's expected this market is going to stand and wait to see what the election results are going to be like for tomorrow, right? >> hey, it's human nature. i mean, people have been paralyzed with all these horror stories about fiscal cliffs and the end of the dollar and the end of america. so, when in doubt, do nothing. hide your cash, sit on the sidelines. but i think there's going to be a big plunger effect that could really unleash tidal waves of money as people start to
a better world for you. >>> superstorm sandy didn't derail the housing market after all. we have more good news out of that bee leagbeleaguered market >> they say sandy did not impact october numbers so much. it was only three days. we'll see the effects of sandy in november, however. overall didn't change the good recovery we're seeing in october. take a look. existing home sales rose 2.1% month to month. that's slightly above expectations. that's because september's numbers were revised down slightly. the bigger story is supply. inventories are down a whopping 22% from a year ago to 2.41 million units. that's lower than any point since late 2005. that is the height of the housing boom. that is due to fewer distressed properties for sale and all that competition is pushing home prices higher. realtors report an 11% jump year over year in the median price. while some is the shift in what's selling to higher priced homes, because that's of course how medians work, fun fact is home sales higher than $500,000 are up 40%. they still make up less than 10% of the market. with all cash investors
today. that was the utilities. they've been beaten down so much after hurricane sandy and among other things. materials, consumer discretionary, energy. a lot of these that have been strong recently, seeing profit taking today. there's technology down 1.25%. michael shea, why the selling? why no bounce today after the biggest down day of the year yesterday? >> because there hasn't been much in the way of resolution. we got bad news out of europe. there's grave concern about taxes. you know, that's been talked about ad nauseam today. there's also, as you mentioned, technical levels only come in play when they're big technical levels. we are at them. there's one more technical level you should know. that is, we are almost at 50% retracement between our lowest low, which is 1266, before our highest high, which was 1474. we're about ten points away from that. 50% retracements. again, those are big numbers. >> all the traders on the floor of the new york stock exchange did well in their math classes in high school and college. you should know that. eric, what do we do here? are you ready t
giving us an update two weeks after sandy historically closed sandy for two days. >> still a miracle they got things open when they did. we're oall following the latest in the general petraeus scandal. unbelievable twists, even today. we have a roreport from washington. then, more on how this story is shedding light on how anything you write can be accessed. pretty scary stuff and something to think about. >> really. in the markets right now, fractional gains right now. the dow jones industrial average off the best levels of the afternoon, but still showing a gain of about 17 points. looks like investors wait and see until we get some solutions on the fiscal cliff. nasdaq is negative by a fraction. down about four points. off of the worst levels, by the way. s&p 500 is up about 3 3/4 points at 1383. >> in today's "closing bell" exchange, we have carol roth, bruce mccain, and our own rick santel santelli. rick, i'm going to start with you today because we see that stutter step opening in the u.s. stock market. some of that could be attributable, i guess, to the plunge in spanish ten-y
sales today, not great. maybe sandy affected even though the government said it wasn't. the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well,
, superstorm sandy may have devastated new york city, but turnout is heavy in queens, new york, as voters cast their ballots in makeshift polling locations. been like that in many parts of the tri-state area today. we're back in a moment. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research t
they're going to be donated to sandy relief efforts. >> thanks for watching "street signs," everybody. it's a good time for a yodel. let's hope they get a deal worked out. >> we certainly do. "closing bell" is coming up next. >>> to me, the most important thing is we solve both at short-run fiscal cliff and longer-run fiscal issues. i think if we do that, the economy can boom. >> i'm hoping to use a phrase i've heard recently, that everybody can rise above the politics that we see here all the time. >> if the guys in washington don't get together and actually act like grown-ups, we're in big trouble. >>> hi, everybody. time to rise above and keep the country from enduring a self-inflicted crisis. we're here today. i'm maria bartiromo coming to you live from the schwab impact conference in chicago. welcome to the "closing bell." we enter the final stretch for the markets today. everybody here is focused on the fiscal cliff. coming up, i will talk to allen simpson and erskine bowles in an interview you cannot afford to miss. hope you join us 4:00 p.m. eastern. the co-founder
in the economy is sandy and which part is weak ne weakest in the economy. it's been down more than you would think. i agree no one expected this from the storm -- >> well, they blame the storm too. >> i would like to know the profit pictures to make the right investment call based upon how bullish did you get for a post fiscal cliff agreement? >> very quickly, you got to make money here. what do you do? >> home building stocks are the number one group thus far this year. you want to go back to your technology. apple, that thing is down over 25% now. buy some apple. buy it on a scale down basis. average down on apple. that would be one thing. oracle is another one. that is at the basis. and qualcomm. those three, bill. >> okay. jeff? >> looking to hedge where the s&p 500 may go. looking at holding some cash. also looking at some opportunity where is they're emerging. oil, for example, on mideast conflicts starting to lift higher. that might be an opportunity. >> just like to wish xi jinping, the new president of china, all the best. may he have success, social stability, and integrating china
enough, the holiday travel is getting pretty ugly out there. you can blame superstorm sandy for part of it. the story next. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> before you start this thanksgiving holiday, you might be surprised and shocked and dismayed to see how much everything is going to cost compared to last year, for example. so if you drive to grandma's house, aaa says a gallon of regular unleaded gasoline is going to run you 8 cents more this year than last year. >> if you're flying this weekend, in addition to make crowds, you're also be paying an average of $22 more per ticket versus last thanksgiving. >> ouch. of course, nothing says thanksgiving like a turkey. but get ready. the american farm bureau says you're going to fork over an extra 66 cents for a 16-pounder this year. that doesn't
Search Results 0 to 11 of about 12